Primo Water Declares Quarterly Dividend

Core Viewpoint - Primo Water Corporation has declared a dividend of US$0.09 per share, payable on September 5, 2024, to shareholders of record by August 22, 2024 [1] Company Overview - Primo Water is a leading provider of sustainable drinking water solutions in North America, operating primarily under a recurring revenue model in the large format water category (3 gallons or greater) [2] - The company's business strategy is likened to a "razor-razorblade" model, where the initial sale of water dispensers creates a user base that frequently purchases complementary consumable products [2] - Primo Water's innovative water dispensers are sold through approximately 11,350 retail locations and online, enhancing household and business penetration [2] - The company's recurring revenue offerings include Water Direct, Water Exchange, and Water Refill, with Water Exchange available in about 17,950 retail locations and Water Refill at approximately 23,500 self-service stations [2] Sustainability Commitment - Primo Water aims to expand consumer access to purified, spring, and mineral water, promoting a healthier lifestyle while reducing plastic waste and pollution [3] - The company adheres to strict water stewardship standards and partners with the International Bottled Water Association (IBWA) to ensure safety, quality, sanitation, and regulatory compliance [3]